The slowdown impact has adversely impacted the performance of the leading logistics firm, Transport Corporation of India (TCI). The company has reported a minuscule 1.1 percent growth in its topline in the first nine months period ending 31st December – Rs 1,909 crore as against Rs 1,888 crore. Its profit after tax (PAT) figure in the same period, however, has gone up by 13 percent to Rs 95 crore from Rs 84 crore last year. The company recently announced its 9 months financial number.
Commenting on the results, Vineet Agarwal, Managing Director, TCI stated, ” In challenging economic environment, the results for the first nine months are as per our expectations across all the divisions. Even with low demand in almost all sectors especially in Automobile and Consumption driven industries, we are able to maintain some momentum in profitability. The company expects better revenue and profitability growth for the last quarter of the year given the marginal improvement in business sentiments.”